Just one step closer to the grave...
If you have money in WaMu - GET IT OUT NOW, GET IT OUT TODAY AND DON'T LOOK BACK. In my personal opinion, this bank will fail, and it's not worth the risk. And no, it's not too big to fail. WaMu will not be bailed out by Benny and the Inkjets. Depositers stand to lose everything beyond their FDIC limits. And shareholders will be wiped out.
They called them "liar's loans" for a reason. Get ready for the lawsuits and criminal charges next.
NEW YORK (Reuters) - Washington Mutual Inc (NYSE:WM - News), the largest U.S. savings and loan, said on Tuesday it obtained a $7 billion capital injection from private equity firm TPG Inc and other investors, but that mortgage problems will lead to a $1.1 billion quarterly loss and the elimination of 3,000 jobs.